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Haengnam Household & Health Care Q3 loss narrows YOY

Haengnam Household & Health Care Inc. said its third-quarter normalized net income was a loss of 64 South Korean chon per share, compared with a loss of 8.02 won per share in the year-earlier period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was a loss of 36.9 million won, compared with a loss of 459.3 million won in the year-earlier period.

The normalized profit margin climbed to negative 0.4% from negative 3.6% in the year-earlier period.

Total revenue declined 23.9% year over year to 9.82 billion won from 12.91 billion won, and total operating expenses fell 27.5% on an annual basis to 9.99 billion won from 13.78 billion won.

Reported net income totaled a loss of 119.2 million won, or a loss of 2.08 won per share, compared to a loss of 905.3 million won, or a loss of 15.80 won per share, in the year-earlier period.

As of Nov. 16, US$1 was equivalent to 1,172.80 South Korean won.